Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) shares saw unusually-strong trading volume on Wednesday . Approximately 2,520,099 shares traded hands during mid-day trading, an increase of 163% from the previous session’s volume of 957,848 shares.The stock last traded at $13.27 and had previously closed at $12.00.

Several analysts have recently commented on MNTA shares. Zacks Investment Research raised Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th. Leerink Swann reissued an “outperform” rating and issued a $18.00 price target (down from $21.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, May 4th. Brean Capital reissued a “buy” rating and issued a $19.00 price target on shares of Momenta Pharmaceuticals in a report on Wednesday, May 4th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Momenta Pharmaceuticals in a report on Wednesday, May 4th. Finally, Goldman Sachs Group Inc. initiated coverage on Momenta Pharmaceuticals in a report on Monday, June 6th. They set a “neutral” rating and a $14.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Momenta Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $16.33.

The company’s market capitalization is $916.46 million. The firm has a 50-day moving average price of $11.70 and a 200-day moving average price of $10.40.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The business had revenue of $26.40 million for the quarter, compared to the consensus estimate of $23.55 million. The firm’s revenue for the quarter was down 41.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. Equities analysts anticipate that Momenta Pharmaceuticals Inc. will post ($1.25) EPS for the current year.

In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Other hedge funds and institutional investors have recently bought and sold shares of the company. Morgan Stanley boosted its position in Momenta Pharmaceuticals by 123.0% in the fourth quarter. Morgan Stanley now owns 69,759 shares of the biotechnology company’s stock worth $1,035,000 after buying an additional 38,470 shares during the period. Rhumbline Advisers boosted its position in Momenta Pharmaceuticals by 9.9% in the fourth quarter. Rhumbline Advisers now owns 75,638 shares of the biotechnology company’s stock worth $1,122,000 after buying an additional 6,835 shares during the period. Swiss National Bank boosted its position in Momenta Pharmaceuticals by 2.6% in the fourth quarter. Swiss National Bank now owns 91,500 shares of the biotechnology company’s stock worth $1,358,000 after buying an additional 2,300 shares during the period. New York State Common Retirement Fund boosted its position in Momenta Pharmaceuticals by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 150,991 shares of the biotechnology company’s stock worth $2,241,000 after buying an additional 2,900 shares during the period. Finally, California Public Employees Retirement System boosted its position in Momenta Pharmaceuticals by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 200,600 shares of the biotechnology company’s stock worth $2,977,000 after buying an additional 5,600 shares during the period.

Momenta Pharmaceuticals, Inc is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. It focuses on three product areas: Complex Generics, Biosimilars and Novel Therapeutics. It has developed generic version of Lovenox (enoxaparin sodium injection).

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